HomeMy WebLinkAboutC2006-027 - 1/31/2006 - Approved
BRIDGE CONSTRUCTION DEFERMENT AGREEMENT
STATE OF TEXAS ~
~
COUNTY OF NUECES ~
This Agreement is entered into between the City of Corpus Christi, a Texas home rule
municipality, 1201 Leopard Street, Corpus Christi, Texas 78401 (hereinafter "City") and
The Lakes at King Estates, Inc., a Texas corporation, 3756 Bratton, Corpus Christi,
Texas 78413 (hereinafter "Developer").
WHEREAS, the plat of The Coves at Lago Vista Unit 1 (Exhibit 1), approved by the
Planning Commission on August 24, 2005 provides for the construction of a bridge
structure over a drainage easement channel along the southern boundary of the
subdivision;
WHEREAS, Developer in compliance with the City's Platting Ordinance, has filed a plat
to develop a tract of land "The Coves at Lago Vista Unit 1" herein called "Development";
WHEREAS, Developer agrees to construct infrastructure and related site improvements
In accordance with the City approved construction plans and specifications;
WHEREAS, a portion of the southern boundary of the above-described Development is
situated adjacent to an existing drainage right-of-way and drainage outfall along the
southern boundary of;
WHEREAS, the Platting Ordinance requires Developer to pay its proportionate share of
future bridge construction (hereinafter 'the required improvements") across said
drainage right-of-way and drainage channel as shown on Exhibit 2; prior to the time
that the above said plat of the Development is filed for record;
WHEREAS, due to the uncertainty of when the property south of the drainage right-of-
way will be platted and the developer thereof be required to contribute to the
construction of the bridge and the City providing funding for its share of the construction
costs as stipulated in the City's Platting Ordinance Section IV A 16 (1) (2), it is the City's
desire to have said bridge be constructed at a future date with Developer's share of the
cost as shown on Exhibit 3;
WHEREAS, Developer will deliver a check payable to the City of Corpus Christi in the
amount of Twenty-eight Thousand Seven Hundred and Eighty-three and 911100 Dollars
($28,783.91), which is 110% of Developer's proportionate share of the estimated cost of
constructing the required improvements, as shown on the cost estimate, which is
attached hereto and incorporated herein as Exhibit 3;
WHEREAS, the City Attorney and Director of Finance have approved this transaction;
and
NOW, THEREFORE the City and Developer agree as follows:
2006-027
01/31/06
M2006-026
The Lakes at King Estates
1 of 5
_.~ -'",",-- ...... ._. ._.
Developer of The Coves at Lago Vista Unit 1 shall escrow funds equal to its
proportionate share of the cost for future construction of a bridge across the
drainage channel adjacent to The Coves at Lago Vista Unit 1 subdivision until the
City causes said improvements to be constructed as a portion of an overall plan.
2 The Developer shall deposit Twenty-eight Thousand Seven Hundred Eighty-
three and 91/100 Dollars ($28,783.91) check with the City of Corpus Christi on or
before the beginning of the City Council meeting to be held on January 31,2006,
which is 110% of Developer's share of the total cost of the bridge construction in
compliance with the Platting Ordinance, as shown on Exhibit 3. Failure of
Developer to deposit said funds as set forth herein shall make this Agreement
null and void.
3 City shall deposit said Twenty-eight Thousand Seven Hundred Eighty-three and
91/100 Dollars ($28,783.91) shall be placed by the City in an interest bearing
account and the total sum, both principal and interest, shall be made available to
the City of Corpus Christi solely for the construction of the required
improvements hereunder. Such funds shall not be used for any other purpose
whatsoever.
4 Developer is released from any further security adjustments if annual
construction costs increase. As consideration for this release, Developer agrees
to release the City from the obligation to refund any excess monies to the
Developer if the deposited funds and accrued interestexceed the cost of
construction. Any remaining balance of deposited funds and accrued interest will
be deposited to the appropriate City fund for City's sole use.
5. The Developer is further relieved of requirements to construct the
aforementioned bridge improvements, unless the property to the south of
drainage right-of-way plats and provides its share of constructing said bridge and
the City provides funding according to the Platting Ordinance.
6. The City's Director of Engineering Services, at Developer's expense, shall file
this Deferment Agreement in the records of Nueces County.
7 Neither party may assign this Deferment Agreement or any rights hereunder
without the prior written approval of the other party.
8 Any notice required or permitted to be given hereunder shall be in writing and
may be given by personal delivery, by fax, or by certified mail, and if given
personally, by fax or certified mail, shall be deemed sufficiently given if
addressed to the appropriate party at the address noted opposite the signature of
such party. Any party may, by notice to the other in accordance with the
provisions of this paragraph, specify a different address or addressee for notice
purposes
2 of 5
';;i This Agreement shall be construed under and in accordance with the laws of the
State of Texas and ail obligations of the parties created hereunder are
performable in Nueces County, Texas Lawsuits pursuant hereto shall be
brought in Nueces County.
10. Developer further agrees, in compliance with the City of Corpus Christi
Ordinance No. 17113, to complete, as part of this Agreement, the Disclosure of
Ownership interests form attached to this Agreement as Exhibit 4.
11. This Agreement shall be executed in triplicate, all original copies of which shall
be considered one instrument. When all original copies have been executed by
the City, and at least two original copies have been executed by Developer, this
Agreement shall become effective and binding upon and shall inure to the
benefits of the parties and their respective heirs, successors and assigns.
3 of 5
EXECUTED in triplicate this ~s.tL day of _ /~ ~ <'< A.U . 2006.
- \ \
The Lakes at King Estates, Inc.
3756 Bratton Road
Corpus Christi, Texas 78413
By:
.j l-
---. / ~ (
.-:]/LfA/'-;''''-- P f-L' T.
Ri6hard Voss, President
STATE OF TEXAS S
S
COUNTY OF NUECES S
This instrument was acknowledged before me on the 25TLday of Jcuu....l C....A..'.-/
2006, by Richard Voss, President of The Lakes at King Estates, Inc, owner anti
developer of The Coves at Lago Vista Unit 1
",,~':!m:~.,., SUSAN G. TANNY :1
~..;). -.<-<0;,. . _ I
r':~":~~ ~'Jctary !'ubll: State ~of Texas I
J ~ ~". ...~~ \ly '~om"ssJOn '''PW'', 1'1.
. ~~....... ~"'..':- , , "
I "',,~,~,:,1~'" June S,2008 j
:;'0""- C; '---;Q:", "'a
NOTARY PUBLIC, STATE F TEXAS
4 of 5
CITY OF CORPUS CHRISTI ("City")
P. O. Box 9277
Corpus Christi, Texas 78469
Telephone: (361) 880-3500
Facsimile: (361) 880-3501
ArrEST
By: (-~~_
ARMANDO CHAPA~
City Secretary
By q/:~~o~
City Manager
APPROVED AS TO FORM: This _~ day of
" .
\
,2006.
By: G~~ ~ithY. . ,,[,
Assistant City Attorney
For City Attorney ro 2Cpr.o-02~ AUn.Wu~
If aMaL -" 'j2l/ 0 ~
. .~i:r.Ii;A~(L
THE STATE OF TEXAS S
S
COUNTY OF NUECES S
This instrument was acknowledged before me on the l( \. day of
. '1.i_v\JtivtiL 'j=+--, 2006, by GEORGE K. NOE, City Manager for the CITY OF
CORPUS CHRISTI, a Texas mUnicIpal corporation, on behalf of said corporation.
{~~;!:~:i.~,\ TAMERA L RILEY
I~""*\"
l. i \ Notary Pub Ii c
\ ~~'} STATE OF TEXAS
~~t!/ My Comm. Exp. 05.26.2008
. \ .
""1\,", L,~, ~ I iJ:.~
NOTARY PUBLIC, STATE OF TE S
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n l:!l:!:)~\t .C61>:L 900W'W '6MP3801l:!B\SUeld\OO1>\t\sCOeC\dn0008C\Sl'lil!OJdWleOl~5u3\\
Eng: Chuck Urban
By CRR
ITEM'
PRELIMINARY COST ESTIMATE
FOR
BRIDGE IMPROVEMENTS
FUTURE OSO P ARKW A Y
COVES AT LAGO VISTA
UNIT 1
DESCRIPTION
QUAN.
QUAN. + UNIT
50/.
A. BRIDGE IMPROVEMENTS:
_g: HMAC Including Primecoat
2 ; 8" Cement Stabilized Caliche Base
3 ia"Lim~Stabilizec:t~LJ~rade
4 6" 'L' Curb
5 '"5'TledSidewalk
__._m__________ ._____
6 Handrail
--'-------- ----
5 8'x5'x40' Concrete Box Culvert
;...____.._ '__'~_______ .~_.__.~.__._ _____.m____
B Headwalls
9 : COfr1pa~tea!?~:c;:kfill
---..--------+
480 !
-.--1
480 :
---. 6601
--,----~-+
322 '
-1 ,680 j
--240"
1
2
1
504, SY
-504 ! -SY
-- --~'--l-- n
693 SY
338 LF
1,764 SF
252 LF
1 i LS
- --\1-
2! EA
1!LS
-------,---..-"
___.__,'___ I
ESTIMATED BRIDGE IMPROVEMENTS TOTAL:! ---
- ----..'--' --- _._--~- ------ --r-'--~:
_ ____________.1 .I-
Eer Cl.~i~~ r~uJ~~i~ts add !91'~+
-- ESTIMATED T'OTAL + 10%tl
____n_ -------l--~-------
Add ~~o for~l1girieering: and Testing: t
- _________J
ESTIMATED TOTAL COSTS:
I
~t-
J
~--
- ---L,"
---+
----i-
UNIT
PRICE
$8.25
$8.75
$4.00
$10.00
$3.50
$75.00
$65,000.00 I
$18,000.00
$19,250.00
____---+__m
_~___~ i
__l2eveloper Defered ~articipation 7.5/50 x $191,892.76 =
_. ~_.~------L
July 1, 2005
Job No. 38035.M.00
TOTAL
COST
$4,158.00
$4,410.00
$2,772.00
$3,380.00
$6,174.00
$18,900.00
$65,000.00
$36,000.00
$19,250.00
$160,044.00_
$16,004.40
$176,048.40
$15,844.36
$191,892.76
$28,783.91
$28,783.91
__ ,_ ~______ L
City Participation 50 -15 = 35/50 = 70% x $191,892.76 = $134,324.94
-=-~r _~_u_~~~ - - ------
. r Total required-for Letter of Credit $28,783.91
.u I
u _ __u_--+-
----T
-- -t-
~4-
..,
Urban Engineering
2725 Swantner
Corpus Christi, TX 78404
1-361-854-3101
EXHIBIT 3
~~
- -
---
CITY OF CORPUS CHRISTI
OISCLOSVRE OF INTEREST
In) of Corpus Christi Ordinanc~ I 71 12. as amended, requires all persons or firms seeking to do business with the
( it) to provide the following information. Every questIOn must be answered. If the question is not applicable,
answer with .NA.. See reverse "ide for definitions.
(OMPANY NAME' The Lakes at King Estates, Inc.
P () BOX:
_.._-_.~ ---.--- -.".- ---
STREET: 3756 Bratton
CITY: Corpus Christi
ZIP: 78413
jil{MIS
I. Corporation: X )
4. /\ssociation )
'1
Partnership ()
Other ( )
3. Sole Owner ( )
5.
DISCLOSURE QUESTIONS
It additional space is necessary, please use the reverse side otthis page or attach separate sheet.
] State the names of each .employee. of the City of Corpus Christi having an .ownership interest. constituting 3%
ilr more of the ownership in the above named .firm..
Name
Job Title and City Department (if known)
N/A
2 State the names of each .offic ia~ of the City of Corpus Christi having an .ownership interest. constituting 3% or
more of the ownership in the above named ".firm..
Name
Title
N/A
State the names of each .board member. of the City of Corpus Christi having an .ownership interest.
constituting 3% or more of the ownership in the above named .firm..
Name
Board, Commission, or Committee
N/A
4. State the names of each employee or officer of a .consultant. for the City of Corpus Christi who worked on any
matter related to the subject of this contract and has an .ownership interest. constituting 3% or more of the
ownership in the above named .firm..
Consultant
N/A
CERTIFICA TE
I certity that all information provided is true and correct as of the date of this statement, that I have not
knowingly withheld disclosure at any information requested; and that supplemental statements will be promptly
submitted to the City of Corpus Christi, Texas as changes occur.
Certifying Person: Rich_~rd Voss_____~_ Title: President
( I ype or y~ /
Signature of Certitying Person: _ ::z.<.~~~/~ t~:..... ::v:-) ___~_ Date:
,I P</-r.b
r
EXHIBIT 4
The Lakes at King Estates,lnc.
3756 Bratton Road
Corpus Christi, TX 78413
TEXAS STATE BANK
555 N. Carancahua, Ste. 100
Corpus Christi, Texas 78478
88-90111149
1148
1/24/2006
I $ **28,783.91
PAY TO THE
ORDER OF
City of CorpuS Christi
_.!!en~~~~ight !hou~an~ Seven Hund~ed Eighty-:!:h~E!..~~nd 91/100~"uuuuuuuuuuuuu"uuuuuuuuuu"u'bOLLARS {D ~l
City of Corpus Christi
MEMo_~rl~ge Improvements Coves @ Lago Vista____
,,- 0 0 ~ ~ ~ B II- I:. ~ ~ 11 0 11 0 ~ ll:
~4~
II- 5 ~ 2 ll1l1 5 ? II~ --~--~~-.---.--.---.-.!!:..
The Lakes at King ESDtes, Inc.
1148
City of Corpus Christi
1/24/2006
Bridge Improvements
28,783.91
Texas State Bank
Bridge Improvements Coves @ Lago Vista
28,783.91
"'*